So you are thinking about starting a dropshipping business. As citizens of the dropship nation, we have some idea about what it takes to create a successful dropshipping business.
One of the most critical parts of establishing a successful dropshipping business is to choose the right dropshipping niche. We here at the DropshipUSA know what makes a business tick, and that's what we will tell you here. Our topic of discussion today will about you choosing the best niches for dropshipping businesses. One of the worst things you can do as a dropshipper is to select a product based on your passion or interest. We are not saying that following your interest is terrible but if you want to build a successful dropship website, then doing some product research is the way to go. Here are the best niches for dropshipping in 2020.Best Dropshipping Niches In 2020
So we want to go into letting you know all the criteria that will allow you to cherry-pick the best dropshipping niche for your business. Remember that different customers need different things, and they have different spending habits. Finding the right demographic to base your business on can be tricky so let's get into that right now.Try Choosing Hobbyist Products
People are very much into pursuing their hobbies. So choosing a product that works as a hobby product means there will be a dedicated audience for your products. People will spend mind-boggling amounts on hobby equipment, training, and tools. Hobbyists like mountain bikers spend more on their bikes than on their cars. Boat enthusiasts spend a lot in outfitting their boats with unique fixtures and ornaments. Choosing the right hobbyist niche for your website will let you connect with eager enthusiasts, and that means you will be able to generate much revenue quite quickly.
Choosing Business Products
Business products are a fantastic niche if you are looking to get into dropshipping. Business clients are a bit more price-sensitive. You need to earn their trust and build rapport. Once your website does that, you can easily craft a long-term, high-volume profitable relationship. Make sure you create a digital marketing campaign that appeals to individual customers alongside businesses. So make sure to optimize your strategy for both demographics.
Products That Has Repeat Purchase Potential
If you want to build a sustainable dropshipping business model, you need to choose a product that people will buy again and again. Recurring revenue is the name of the game. Work with your team to find new products that people will need and reorder frequently. You can grow rapidly with a customer base that keeps coming back to your website to make frequent purchases.
Criteria For Choosing The Best Dropshipping Niche Ideas
When choosing the best dropshipping niches and products, you need to follow a few criteria. Here in the following passages, you will see what you need to think about when selecting popular dropship products. So let's begin.Choose The Right Pricing
You need to choose the right price for your product. Remember, people will purchase products from you if it's within a reasonable range without phone support. However, people will not buy a 1500 dollar product without talking to someone who is an expert. So if you choose a product with a high resale value, customers want to speak with a sales representative before making such a large purchase. Doing this helps in two ways. One is that it shows the item is a good fit for them, making sure the store is legitimate. Choosing the right price range is very important. Choose one with margins that are rich enough for pre-sale support. Usually, the range of 50-200 dollars sweet spot is the right range of pricing when selecting a dropshipping niche. This price range is usually the sweet spot that maximizes your revenue, and you wouldn't have to provide extensive pre-sale support.Focusing On MAP
So dropshippers often have prie wars on highly contested niches. That's one of the reasons why many manufacturers offer MAP or minimum advertised price. The reason for floor pricing on products is that price wars don't break out and everyone, including the manufacturer, turns in a reasonable profit by carrying a manufacturer's products. When choosing a niche, make sure you select one with manufacturers that enforce MAP pricing. It will help you build a high-value and information-rich dropshipping site. The best part is that all your competitors provide similar prices as you, which means you can challenge them by creating a reputable website that commands industry authority.
Choose Something That's Easily Marketable
Knowing how to market your product well before going into the business is imperative if you want to succeed. Finding out how to acquire customers well before going into the business will save you from a host of different problems and nightmares that follow customer acquisition plans. It would be best to create a comprehensive plan to generate traffic and leads by writing articles, giving away products, and reaching out to active online communities. So make sure you work on building a digital marketing plan that focuses on customer acquisition. Choosing a niche that has plenty of accessories will ensure healthier revenue numbers.Choose A Niche With Additional Accessories
Retail margins on high price products are always lower than those on low-priced items. If you are a mobile store, your profit margin for selling a flagship smartphone is around 5%. However, the same store will clear a 100% or 200% profit margin by selling its case. Remember selling high-value items will require more effort than selling smaller accessories. Because of this reason, you should add new cheaper accessories along with your primary seller in the niche you choose. Choose a niche that allows you to create a comprehensive inventory for your dropshipping website.
Choosing A Stable Product
You have to remember that a content-rich website with high-quality content and optimized pages will go a long way into ensuring your dropshipping venture is a success. However, that will be a problem if you have to change the product you sell every day. Changing up your products now and then will be a ton of work, and that would mean you will have to invest in upgrading regularly. So make sure when you choose a niche, you choose one with stability and one where the products don't change up a lot. When you have a stable product, you will be able to optimize your dropshipping business better.Choose Products That Are Not Available Locally
As a dropshipper, you will never be successful if you start competing with local stores. So the best dropshipping niche ideas will be choosing products that your audience cannot source locally. Remember, you need to complete your due diligence when selecting the area and selecting a niche that you cannot find in that area. It's an essential step in setting up your dropshipping business so do it right.
Easily Shippable Products
Choosing a popular drop ship product is a nuanced decision. Nowadays, customers look for free shipping options and cheap shipping prices. So when you choose a niche for your dropshipping business, make sure you select a small product.
These will be easy to wrap and ship. Plus, the shipping charges will be much lesser than more oversized products. Make sure you do ample research on the products you can choose that will maximize your profit margins.
So now that you know the criteria for choosing the best niches for your dropshipping business let's talk about the tools you can utilize to find your niche.
Researching Your Dropshipping Niche
You need to choose the best niche for your dropshipping site, which means you need to do some in-depth research. Make sure you do comprehensive Keyword analysis, competition overview, keyword competition, SEO optimization.
Doing these will guarantee you set up your dropshipping business for success. Here are the tools you can use to research and find popular dropship products:
Google Trends: You can use it to see your potential customers' search trends going back to 5 years.
Interest By Subregion: You can check out different trends from different subsections within Google Trends. Use it to write down the top 5 countries from this rating.
Keywords Everywhere: You have to find out the average monthly search volume of the niche you want to start your business in. Keywords Everywhere is an excellent tool for that.
Audience Insights: Using FB audience insights that showcase vital audience interests. It allows you to add new demographics to your ad campaigns through the "New audience" section.
Gender Interest: Facebook Insights allows you to understand the demands of your product amongst different genders.
Google Keyword Planner: Using Google keyword planner, you will find out keywords with an average number of 100 to 10000 monthly searches. With that, you will be able to create PPC and SEO campaigns accordingly.
Work With The Right Dropshipping Niche
So there you go, this is all you needed to know about finding the best niches for a dropshipping business. If you want to build a successful business, make sure you follow everything we have listed here.
Use the tools we listed to determine the local area, the demographics you want to target, and the product niche you want to hit. If you're going to build the perfect dropshipping website, then you can contact the DropshipUS developers.
We can help you build a website that generates business and guarantees sustainable growth. So that's about it for now. We have come to the end of our discussion today.
If you have any queries about finding popular dropship products, drop them in the comments below or hit us up on our socials. With that being said, we are here at the end. We will come back with something new about the dropship nation soon. Until then, see ya!
Originally posted in: https://dropshipusa.io/blogs/news/best-niches-for-dropshipping
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